a car was purchased for $12,329 this year. Each year the value decreases 8%. write the exponential equation to model the situation
v = 12329 (1 - .08)^y
To write the exponential equation to model the situation, we need to consider the value of the car each year.
Let's assume the initial value of the car when it was purchased is represented by V0. In this case, V0 = $12,329.
Since the value of the car decreases by 8% each year, we can represent the value of the car after n years as Vn = V0 * (1 - 0.08)^n.
Substituting the initial value V0 = $12,329 into the equation, we get Vn = $12,329 * (1 - 0.08)^n.
Therefore, the exponential equation to model the situation is Vn = $12,329 * (0.92)^n.